Advantage Credit, Inc.’s Post

Job seekers on the rise, satisfaction on the decline. The Federal Reserve Bank of New York’s July 2024 SCE Labor Market Survey reveals some troubling trends. Job seekers have sharply increased compared to a year ago. Wage satisfaction and nonwage benefits are both deteriorating. Promotion opportunities are also on the decline. The average expected likelihood of receiving a job offer in the next four months has increased. But so has the fear of unemployment. Here's the kicker 😬... 4.4% expect to be unemployed in the next four months—the highest since July 2014. They economy may be bottoming out, but many expect things to get worse before they improve. How is your organization addressing the economic concerns of your workforce? ⚡️ #HumanResources #Transformation #Labor #Economy

Battle of the Employment Surveys: With New Insights from BrightQuery   Today’s Employment report revealed some soft cracks in U.S. employment, as revealed by the continued rise in the national unemployment rate. The stronger Establishment Survey rise in non-farm payrolls relative to the Household Survey employment gains reminds us of the 2009 modern anthem for New York City performed by Jay-Z and Alicia Keys. Many economy watchers still need clarification on the divergence of U.S. employment surveys. In our article below, we unpack the reasons for this duality and use BrightQuery data, which measures the entire employee headcount of U.S. labor markets instead of a subset of data used by both official labor market surveys, to provide a better picture of actual labor market conditions.  #unemploymentrate #federalreserve #recession #nonfarmpayrolls #laborforceparticipationrate #parttimeworkers   Please message me if your organization wants to hire me as your next Keynote Speaker. https://lnkd.in/ggSjUSH2

Approximately 570,000 more Americans reported themselves unemployed in December than a year earlier, the U.S. Department of Labor's Bureau of Labor Statistics reported today. Most of the newly jobless are white or Latino. The number of Blacks who were jobless and seeking work fell over 2023. One in five unemployed people are considered long-term jobless, or without work for 27 weeks or more. That has remained steady for months. Here are December 2023 seasonally adjusted jobless rates: White jobless rate 3.5%, up from 3.0 a year earlier Black jobless rate 5.2% down from 5.7 a year ago Latino jobless rate 5.0%, up from 4.2% a year ago Asian American jobless 3.1% in December, up from 2.4% in December 2022. More data from the BLS is available here: https://lnkd.in/g6Djj2ye © Vickie Elmer, 2024 #jobs #racialequity #jobless #economy

A recent New York Federal Reserve survey showed more people looking for work and growing dissatisfaction with pay. The survey was conducted in March and found that while workers were still looking for higher starting salaries, they were getting lower offers. Employers should pay attention to these trends in their recruiting and retention efforts. Hiring is also an area that can cause legal problems. Employers should regularly consult their attorneys for an update on local, state and federal laws. If you need assistance with workplace policies, contact my firm. What employment trends are you seeing in your industry? #employmentlaw #hiring #wages #recruiting

In the latest New York Federal Reserve survey, concerning trends in the U.S. labor market have been revealed. The survey indicated a decline in the number of people reporting employment, alongside a notable increase in individuals actively seeking work. Moreover, there has been a noticeable uptick in dissatisfaction with pay among workers. The survey, which assesses labor activity, confidence, and satisfaction, highlights a growing unease in July regarding job security. Additionally, there is a rising trend of individuals anticipating working beyond the traditional retirement age. Despite the ongoing search for higher starting salaries, workers are encountering reduced salary offers in the current landscape. These findings shed light on the evolving dynamics within the labor market, emphasizing the importance of staying informed and adaptable in the face of shifting trends. #LaborMarket #EmploymentTrends #JobSatisfaction

A recent New York Federal Reserve survey showed more people looking for work and growing dissatisfaction with pay. The survey was conducted in March and found that while workers were still looking for higher starting salaries, they were getting lower offers. Employers should pay attention to these trends in their recruiting and retention efforts. Hiring is also an area that can cause legal problems. Employers should regularly consult their attorneys for an update on local, state and federal laws. If you need assistance with workplace policies, contact my firm. What employment trends are you seeing in your industry? #employmentlaw #hiring #wages #recruiting

That a whopping $6,818.50 per month, plus benefits. Instead hiring a bookkeeper outsource your bookkeeping needs. It could save you up to $6,000 per month.

The NY Fed Reserve Bank released the results from a November survey on employment. Some interesting findings from it: MORE ARE LOOKING FOR A NEW JOB: The share of folk searching for a job in the past four weeks increased to 23.1%, up from the 19.4% recorded in July. The increase was most pronounced for women. Workers expecting to move to a new employer increased to 12.3% from 10.6% recorded in July. In turn, the likelihood of moving OUT of the labor force rose to 3.5%, which is also the highest reading of the series since its inception. This was most pronounced for respondents with annual household incomes below $60,000. EMPLOYERS ARE CONTINUING TO PAY MORE FOR TALENT: The average full-time offer wage received in the past four months increased sharply to $79,160 from $69,475 in July, a 14% gain and the highest reading of the series since its start in November 2014. WORKERS ARE GROWING LESS INTERESTED IN PAY AS A REASON TO MOVE: The average reservation wage, or the lowest annual wage respondents would be willing to accept for a new job fell to $73,391 in November, from $78,645 in July. Thanks to our CBRE Head of Retail Research, Brandon Isner, for the share. Full report here: #labormarket #nyfed #cbre #employment https://lnkd.in/gRPUHeKM

As David Rosenburg accurately states, 'headlines are for the lazy'. Today's LFS' headline: Employment increased by 90,000 (+0.4%) in April. Time to celebrate or cause of concern? Mostly the latter. Let's dive in: - 50,000 Jobs were part-time (not a good sign of business confidence) - Avg. Hourly Wage decelerated to 4.7% y/y (from 5.1% in March) - Y/Y, P-T employment was up by 2.9% (+104,000) in April, while F-T employment was up by 1.7% (+273,000)...this matters because... - population growth of 1.1 million (+3.3%) vastly outpaced employment growth (+1.9%; +377,000)...3/4 of a million people looking for jobs - Naturally, Y/Y, the employment rate was down 0.9 percentage points #employment #canada #business #jobs #economy #interestrates